This report categorizes the companies as below based on their outstanding issues and the Listing Rules requirements.
- Companies that are in severe financial difficulties and/or have ceased to maintain sufficient operations and are in delisting procedure (PN 17 companies);
- Companies which have identified irregularities and/or are under regulatory investigation;
- Companies which have failed to publish financial results and/or identified material internal control weaknesses
|
No. |
Long suspended Main Board companies |
Date of |
Resumption conditions / Major issues to be addressed |
Major developments based on company’s announcements |
Outstanding issues |
| 1 | First Mobile Group Holdings Limited (865) | 27-Nov-09 | ▪ Demonstrate sufficient operations / assets
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal controls Hyperlink: |
▪ 3rd delisting stage expired in Dec 2012
▪ Resumption proposal constituted a reverse takeover subject to new listing requirements ▪ New listing application submitted in Oct 2014 Hyperlinks: |
▪ Publish outstanding financial results and address any auditors’ concerns
▪ Fulfill new listing requirements |
| 2 | Proview International Holdings Limited (334) | 2-Aug-10 | ▪ Demonstrate sufficient operations / assets
▪ Address issue on material dilution to existing shareholders ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ 3rd delisting stage expired in Jun 2012
▪ Resumption proposal constituted a reverse takeover subject to new listing requirements ▪ Approval-in-principle to the new listing application granted in Jun 2014 ▪ Due to mistake made by shareholder on proxy instruction, resumption proposal was not approved at the shareholders’ meeting. Company will convene a shareholders’ meeting on 11 Mar 2015 to rectify the previous voting result ▪ Outstanding results published Hyperlinks: Announcement dated 30 Jun 2014 |
▪ Fulfill new listing requirements |
| 3 | The Grande Holdings Limited (In Liquidation) (186) | 30-May-11 | ▪ Demonstrate sufficient operations / assets
▪ Demonstrate sufficient working capital ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system ▪ Withdraw winding up petition and discharge liquidators Hyperlink: |
▪ 3rd delisting stage expired in Jan 2014
▪ Outstanding results published ▪ Revised resumption proposal submitted Hyperlinks: |
▪ Demonstrate sufficient operations / assets
▪ Demonstrate sufficient working capital ▪ Address auditors’ concerns ▪ Demonstrate adequate internal control system ▪ Withdraw winding up petition and discharge liquidators |
| 4 | Titan Petrochemicals Group Limited (Provisional Liquidators Appointed) (1192) | 19-Jun-12 | ▪ Demonstrate sufficient operations / assets
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Withdraw winding up petition and discharge provisional liquidators Hyperlink: |
▪ 2nd delisting stage expired in May 2014
▪ Resumption proposal submitted in May 2014 ▪ Outstanding results published ▪ Trading resumption conditionally approved Hyperlinks: Announcement dated 30 May 2014 |
▪ Implement resumption proposal |
| 5 | DBA Telecommunication (Asia) Holdings Limited (3335) | 6-Jun-13 | ▪ Publish outstanding financial results and address auditors’ concerns
▪ Demonstrate sufficient operations / assets ▪ Demonstrate adequate internal control system Hyperlinks: |
▪ In 1st delisting stage (expiring in Jul 2015)
Hyperlink: |
▪ Publish outstanding financial results and address any auditors’ concerns
▪ Demonstrate sufficient operations / assets ▪ Demonstrate adequate internal control system |
| 6 | China Solar Energy Holdings Limited (155) | 16-Aug-13 | ▪ Demonstrate sufficient operations / assets
▪ Investigate the allegations in complaints ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: ▪ |
▪ In 1st delisting stage (expiring in Jul 2015)
▪ Phase one investigation completed and findings announced in Feb 2015 Hyperlinks: |
▪ Demonstrate sufficient operations / assets
▪ Investigate allegations in complaints ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 7 | Kith Holdings Limited (1201) | 18-Dec-13 | ▪ Demonstrate sufficient operations / assets
▪ Inform market of material information ▪ Withdraw winding up petition and discharge provisional liquidators ▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ 1st delisting stage expired in Aug 2014
▪ Resumption proposal submitted in Aug 2014 ▪ Trading resumption conditionally approved ▪ Outstanding results published ▪ Winding up petition withdrawn and provisional liquidators discharged in Feb 2015 Hyperlinks: Announcement dated 11 Nov 2014 |
▪ Implement resumption proposal
|
| 8 | Z-Obee Holdings Limited (Provisional Liquidators Appointed) (948) | 27-Jun-14 | ▪ Demonstrate sufficient operations / assets
▪ Withdraw winding up petition and discharge provisional liquidators ▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ In 2nd delisting stage (expiring in Jul 2015)
Hyperlink: |
▪ Demonstrate sufficient operations / assets
▪ Withdraw winding up petition and discharge provisional liquidators ▪ Publish outstanding financial results and address any auditors’ concerns |
| 9 | China Agrotech Holdings Limited (In Liquidation) (1073) | 18-Sep-14 | ▪ Demonstrate sufficient operations / assets
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Withdraw winding up petition and discharge provisional liquidators Hyperlink: |
▪ In 1st delisting stage (expiring in Aug 2015)
Hyperlink: |
▪ Demonstrate sufficient operations / assets
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Withdraw winding up petition and discharge provisional liquidators |
|
No. |
Long suspended Main Board companies |
Date of |
Resumption conditions / Major issues to be addressed |
Major developments based on company’s announcements |
Outstanding issues |
| 1 | Natural Dairy (NZ) Holdings Limited (462) | 7-Sep-10 | ▪ Inform market of material information on ICAC’s charges against company’s shareholder and management related to an acquisition of dairy farms
▪ Address matters related to the acquisition of dairy farms and placing of convertible notes ▪ Demonstrate adequate internal control system ▪ Demonstrate directors satisfy the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Perform due diligence on the uncompleted transactions related to the acquisition of dairy farms Hyperlinks: Announcement dated 22 Jul 2011 |
▪ Announcement on ICAC’s charges published on 1 Nov 2012
▪ Further resumption conditions imposed in Feb 2014 and modified in Sep 2014 Hyperlinks: |
▪ Address matters related to the acquisition of dairy farms and placing of convertible notes
▪ Demonstrate adequate internal control system ▪ Demonstrate directors satisfy the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Perform due diligence on the uncompleted transactions related to the acquisition of dairy farms |
| 2 | China Forestry Holdings Co., Ltd. (930) | 26-Jan-11 | ▪ Conduct forensic investigation to address issues raised by auditors
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Forensic investigation completed and findings announced in Apr 2012
Hyperlinks: |
▪ Address issues arisen from forensic investigation findings
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 3 | Qunxing Paper Holdings Company Limited (3868)
(Interim Receivers and Managers Appointed) |
30-Mar-11 | ▪ Approval of resumption by Securities and Futures Commission (SFC)
▪ Conduct forensic investigation to address potential irregularities identified by auditors ▪ Publish outstanding financial results and address any auditors’ concerns Hyperlinks: |
▪ Forensic investigation completed and findings announced in Apr and Jul 2013
▪ SFC commenced legal proceedings against the company and directed the Exchange to suspend the company’s shares trading ▪ Interim receivers and managers appointed in Mar 2014 Hyperlinks: Announcement dated 22 Apr 2013 Announcement dated 17 Jul 2013 |
▪ Awaiting SFC’s direction
▪ Publish outstanding financial results and address any auditors’ concerns |
| 4 | Real Gold Mining Limited (246) | 27-May-11 | ▪ Conduct forensic investigation to address reported potential irregularities
▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Forensic investigation completed and findings announced in Apr and Jun 2014
▪ Outstanding results expected to be published in Oct 2015 Hyperlinks: Announcement dated 25 Apr 2014 |
▪ Address issues arisen from forensic investigation findings
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 5 | BEL Global Resources Holdings Limited (761) | 4-Jul-11 | ▪ Investigate a previous transaction and inform market of material information
▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlinks: |
▪ Forensic investigation completed and reported to a law enforcement agency in Oct 2013
▪ Further resumption conditions imposed in Nov 2014 Hyperlinks: |
▪ Investigate a previous transaction and inform market of material information
▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 6 | Zhongda International Holdings Limited (909) | 5-Sep-11 | ▪ Investigate the suspected misuse of funds by directors and inform market of material information
▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Outstanding results published
▪ Internal control review completed and is preparing the report Hyperlinks: |
▪ Investigate the suspected misuse of funds by directors and inform market of material information
▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 7 | Boshiwa International Holdings Limited (Provisional Liquidators Appointed) (1698) | 15-Mar-12 | ▪ Conduct forensic investigation to address issues raised by auditors
▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Forensic investigation completed and findings announced in Apr 2013
▪ Winding up petition issued and provisional liquidators appointed in Feb 2015 Hyperlinks: |
▪ Publish outstanding financial results and address any auditors’ concerns
▪ Demonstrate adequate internal control system |
| 8 | Daqing Dairy Holdings Limited (1007) | 22 Mar-12 | ▪ Conduct forensic investigation to address issues raised by auditors
▪ Inform market of material information ▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Forensic accountant engaged in Nov 2013
Hyperlink: |
▪ Conduct forensic investigation to address issues raised by auditors
▪ Inform market of material information ▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 9 | Trony Solar Holdings Company Limited (2468) | 21-Jun-12 | ▪ Conduct forensic investigation to address potential irregularities identified by company
▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Forensic investigation completed and findings announced in Dec 2014
▪ Outstanding results expected to be published in Sept 2015 Hyperlinks: |
▪ Address issues arisen from forensic investigation findings
▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 10 | China High Precision Automation Group Limited (591) | 22-Aug-12 | ▪ Approval of resumption by Securities and Futures Commission (SFC)
Hyperlink: |
▪ SFC directed the Exchange to suspend the company’s shares trading
Hyperlink: |
▪ Awaiting SFC’s direction |
| 11 | China Metal Recycling (Holdings) Limited (Provisional Liquidators Appointed) (773) | 28-Jan-13 | ▪ Conduct forensic investigation to address allegations in a research report
▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ Securities and Futures Commission filed a winding up petition and appointed provisional liquidators in Jul 2013
Hyperlink: |
▪ Pending court decision on winding up petition
▪ Conduct forensic investigation to address allegations in a research report ▪ Publish outstanding financial results and address any auditors’ concerns |
| 12 | Sijia Group Company Limited (1863) | 14-Feb-13 | ▪ Approval of resumption by Securities and Futures Commission (SFC)
▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns Hyperlinks: |
▪ Independent investigation completed and findings announced in Jun 2013
▪ Outstanding results published ▪ SFC directed the Exchange to suspend the company’s shares trading Hyperlinks: Announcement dated 21 Jun 2013 |
▪ Awaiting SFC’s direction
▪ Address auditors’ concerns |
| 13 | Dynasty Fine Wines Group Ltd. (828) | 22-Mar-13 | ▪ Publish internal investigation findings and address any identified issues
▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ Internal investigation and audit expected to be completed in Apr 2015
Hyperlink: |
▪ Publish internal investigation findings and address any identified issues
▪ Publish outstanding financial results and address any auditors’ concerns |
| 14 | China Lumena New Materials Corp. (67) | 25-Mar-14 | ▪ Address the alleged irregularities and inform market of material information
▪ Demonstrate sufficient operations / assets ▪ Publish outstanding financial results and address auditors’ concerns Hyperlink: |
▪ Initial responses to the alleged irregularities published in Apr 2014
▪ Outstanding results expected to be published in Mar 2015 Hyperlinks: |
▪ Address the alleged irregularities and inform market of material information
▪ Demonstrate sufficient operations / assets ▪ Publish outstanding financial results and address auditors’ concerns |
| 15 | Han Tang International Holdings Limited (formerly known as Pearl River Tyre (Holdings) Ltd.) (1187) | 1-Apr-14 | ▪ Publish forensic review findings and address any identified issues
▪ Demonstrate sufficient operations / assets ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Forensic investigation completed and findings announced in Sep 2014
▪ Internal control review completed in Nov 2014 ▪ Outstanding results published Hyperlinks: Announcement dated 15 Sep 2014 |
▪ Address issues arisen from forensic investigation findings
▪ Demonstrate sufficient operations / assets ▪ Address auditors’ concerns ▪ Demonstrate adequate internal control system |
| 16 | Dejin Resources Group Company Limited (1163) | 16-May-14 | ▪ Verify the genuineness of the alleged contract, settlement agreement and arbitral award of its major subsidiary and assess their implication to its financial and operation position
▪ Demonstrate that the company is able to appraise its major subsidiary’s position and to effectively report on its inside/material information ▪ Inform market of material information Hyperlink: |
▪ Independent adviser appointed in Jul 2014
▪ Key findings of interim investigation report announced in Sep 2014 Hyperlinks: |
▪ Verify the genuineness of the alleged contract, settlement agreement and arbitral award of its major subsidiary and assess their implication to its financial and operation position
▪ Demonstrate that the company is able to appraise its major subsidiary’s position and to effectively report on its inside/material information ▪ Inform market of material information |
| 17 | Fujian Nuoqi Co., Ltd. (1353) | 23-Jul-14 | ▪ Demonstrate sufficient operations / assets
▪ Conduct forensic investigation to address reported potential irregularities ▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlink: |
▪ Potential irregularities announced
▪ Financial adviser appointed in Sep 2014 to formulate restructuring proposal Hyperlinks: |
▪ Demonstrate sufficient operations / assets
▪ Conduct forensic investigation to address reported potential irregularities ▪ Demonstrate directors satisfying the levels of skill, care, experience and integrity, etc, required by Listing Rules ▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns ▪ Demonstrate adequate internal control system |
| 18 | NVC Lighting Holding Limited (2222) | 11-Aug-14 | ▪ Address the identified irregularities and inform market of their impact
▪ Demonstrate adequate internal control system ▪ Publish forensic review findings and address any identified issues ▪ Inform market of material information Hyperlink: |
▪ Forensic accountant engaged in Jan 2015
Hyperlink: |
▪ Address the identified irregularities and inform the market of their impact
▪ Demonstrate adequate internal control system ▪ Publish forensic review findings and address any identified issues ▪ Inform market of material information |
|
No. |
Long suspended Main Board companies |
Date of |
Resumption conditions / Major issues to be addressed |
Major developments based on company’s announcements |
Outstanding issues |
| 1 | China Billion Resources Limited (274) | 29-Jun-11 | ▪ Inform market of material information
▪ Demonstrate adequate internal control system ▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ Internal control review completed and is being reviewed by the management
Hyperlinks: |
▪ Demonstrate adequate internal control system
▪ Publish outstanding financial results and address any auditors’ concerns |
| 2 | Mayer Holdings Limited (1116) | 9-Jan-12 | ▪ Inform market of material information
▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ Substantial change of board members in Oct 2014
Hyperlink: |
▪ Inform market of material information
▪ Publish outstanding financial results and address any auditors’ concerns |
| 3 | Siberian Mining Group Company Limited (1142) | 22-Apr-13 | ▪ Investigate a past acquisition and address any identified issues
▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns Hyperlink: |
▪ Further resumption conditions imposed in Jul 2014
Hyperlink: |
▪ Investigate a past acquisition and address any identified issues
▪ Inform market of material information ▪ Publish outstanding financial results and address any auditors’ concerns |
| 4 | Flyke International Holdings Ltd (1998) | 31-Mar-14 | ▪ Publish investigation findings
▪ Publish outstanding financial results and address auditors’ concerns ▪ Demonstrate adequate internal control system Hyperlinks: |
▪ Investigation completed and findings announced in Jan 2015
Hyperlink: |
▪ Address issues arisen from investigation findings
▪ Publish outstanding financial results and address auditors’ concerns ▪ Demonstrate adequate internal control system |
| 5 | Golden Shield Holdings (Industrial) Limited (2123) | 1-Apr-14 | ▪ Publish outstanding financial results and address any auditors’ concerns
Hyperlink: |
▪ Winding up petition issued against the Company in Oct 2014
Hyperlink: |
▪ Publish outstanding financial results and address any auditors’ concerns |
|
No. |
Long suspended Main Board companies |
Date of |
Resumption conditions / Major issues to be addressed |
Major developments based on company’s announcements |
Outstanding issues |
| 1 | SCMP Group Limited (583) | 26-Feb-13 | ▪ Restore public float
Hyperlink: |
▪ Company is exploring alternatives to restore public float
Hyperlink: |
▪ Restore public float |
| 2 | China Oriental Group Company Limited (581) | 29-Apr-14 | ▪ Restore public float
Hyperlink: |
▪ Two major shareholders are in discussion of possible solutions in resolving the public float issue
Hyperlink: |
▪ Restore public float |
| 3 | Simsen International Corporation Limited (993) | 4-Nov-14 | ▪ Publish announcement in relation to a proposed subscription and distribution in species
Hyperlink: |
▪ Conditional subscription agreement signed in Jan 2015
▪ Announcement under finalisation Hyperlink: |
▪ Publish announcement in relation to a proposed subscription and distribution in species |
| 4 | Superb Summit International Group Limited (1228) | 20-Nov-14 | ▪ Address the allegations and inform market of material information
Hyperlink: |
▪ Company is preparing an announcement to address the allegations in an analyst report
Hyperlink: |
▪ Address the allegations and inform market of material information |
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